Business
Namibia - Africa Oil Corp Update
Namibia - Africa Oil Corp Update.
About this update from Westmount Energy Limited
[{"type":"text","content":"\n\n28th September 2023\nWESTMOUNT ENERGY LIMITED\n(\"Westmount\" or the \"Company\")\nNamibia exploration and appraisal program - Africa Oil Corp update\nWestmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF), the AIM-quoted oil and gas investing company focussed on high impact drilling outcomes in emerging basins, notes the update provided this morning by Africa Oil Corp. (\"AOC\"; TSX: AOI.TO, Nasdaq Stockholm: AOI.ST) with respect to exploration and appraisal activities on Blocks 2913B and 2912, in the Orange Basin, offshore Namibia. The update heralds a major milestone in the appraisal of the giant Venus light oil discovery with the successful re-entry, sidetracking and drill stem testing (\"DST\") of the Venus-1X discovery well, which should contribute to the progression of development studies supporting the first commercial development in Block 2913B. \n\nThe update also confirms the successful drilling, coring and logging of the first appraisal well, Venus-1A, which was drilled, using the Tungsten Explorer drillship, approximately 13km north of the Venus-1X discovery well. Venus-1A will now be re-entered in the coming days and undergo a DST program using the Deepsea Mira rig.\n \nFollowing the completion of operations at the non-commercial Nara-1X exploration well on Block 2912 the Tungsten Explorer drillship will now mobilize to drill the substantial Mangetti-1X prospect, located on Block 2913B, immediately to the north of the giant Venus light oil accumulation1.\n \nAOC is a publicly listed Independent E&P company with producing and development assets in deep-water Nigeria and a portfolio of exploration and appraisal assets, located offshore west and south Africa as well as offshore Guyana. AOC holds its interests through direct ownership interests in concessions and through its shareholdings in private and publicly listed investee companies, including: Prime Oil & Gas Coöperatief U.A.; Impact Oil & Gas Ltd.; Africa Energy Corp.; and Eco (Atlantic) Oil and Gas Ltd. Up to date detailed disclosure with respect to AOC's overall strategy, portfolio of assets, production guidance, dividend and shareholder return policies is available via its 'Report to Shareholders for the Period Ended March 31, 2023' https://africaoilcorp.com/site/assets/files/1842/africa_oil_corp_-_2...